Gentlemen, we are now in a state of necessity, and necessity knows no law - Reich Chancellor Bethmann-Hollweg
KOREAN HARDWARE MAKER Samsung extended its war against Apple, having topped the iPhone-maker in Fortune's Global 500 list.
Fortune's Global 500 is an annual list of the world's biggest companies, ranked by revenue. Samsung must be celebrating today, having ranked in the number 14 spot, higher than Apple, which took slot 19 on the list. This was due to Samsung's higher revenue, with the Galaxy S4 maker raking in $178.6bn compared to Apple's $156.6bn.
However, Apple has reason to celebrate too. While Samsung's position on the list rose by six points year on year, Apple's jumped 36 places, having taken the 55th spot previously.
Fortune said, "For Samsung, 2012 proved another banner year. While the South Korean electronics maker remained unchallenged in the TV business for the seventh consecutive year, it also became the [number one] mobile phone maker, shipping nearly 397 million units and seizing 25 [percent] of the global market.
"Apple is bigger than ever - cracking the Fortune 10 for the first time and moving up 36 spots in the Global 500. The company has done anything but slow down. The introductions of the iPhone 5 and a the 7in iPad Mini helped propel the tech giant's revenues up from $108 billion in 2011 to $157 billion last year."
Among other information technology firms, Hon Hai - better known as Foxconn - took the number three spot at number 30, while AT&T, and Hewlett-Packard (HP) were, perhaps surprisingly, fourth and fifth in the number 30 and 34 spots, respectively.
Although they are the highest ranking technology companies on the Global 500 list, neither Samsung nor Apple is likely to top the list any time soon, with Royal Dutch Shell and Walmart dominating the top two spots with revenues of $481.7bn and $469.2, respectively. µ